BLUMEX: Live Project Marketing & Rebranding Plan by Anastasia Sorokina

BLUMEX BLUM & CO

MARKETING & REBRANDING PLAN

Done by: Anastasia Sorokina Eilynn Tan

CONTENT PAGE

Brand Story 7 Market Research 8 - 11 Brand Context 12 - 16 Current Marketing Mix 17 - 22 Competitorsâ&#x20AC;&#x2122; Analysis 23 - 26 Brand Rejuvenation 27 - 47 New Label & Product Develpoment 48 - 83

EXECUTIVE SUMMARY

The purpose of this report is to critically analyze and evaluate BLUMEX as a brand and its marketing strategy to help rejuvenate the brand. Apart from that, the new recommended jewelry and accessories line - ZART has been introduced to help broaden the company’s appeal to the younger target audience. Through the overview of the brand, it is understood that Blum & Co has successfully build the brand up since 1992 with many stores opened and sustained island wide. However, it has not been doing well in capturing the attention after the turn of the century with the millennials. While adapting well to macro trends, BLUMEX needs to focus on key industry trends to understand what is trending globally and within Singapore. That will create opportunities for the brand to venture into and to differentiate itself from competitors. After doing a site visit to the store outlet at Hitachi Tower, it is important for BLUMEX to offer excellent shopping experience that reflects its brand image. Hence, a new store layout has been recommended to hopefully bring in more traffic into the store. BLUMEX promotes the brand mainly through digital mediums, however the brand can do a better job in the aesthetics, interaction with the consumers and brand awareness. Having a good spread of campaigns and events would help the brand in terms of publicity. These brand rejuvenation strategies will share common values, created buzz and encouraged consumer awareness for BLUMEX. With Blum & Co’s great suppliers connections in Hong Kong and Korea, it is an opportune time to introduce a new product line - ZART to specialize in jewelry and accessories. The aim of ZART is to be complementary to BLUMEX designs so that BLUMEX’s designers will focus on designing the collections. Strategic planning has been done to help BLUMEX and ZART focus on gaining recognition on a larger scale and to ultimately increase sales.

BLUMEX

BRAND STORY

“Strength meets beauty.” BLUMEX is the definition of strength and beauty. An elegant way of living that begins from within, unfolding delicately its splendor. Crafted for the modern Asian woman, each BLUMEX piece is consistently made to embody the perfect blend of classic tailoring and contemporary styling; appropriate for any roles and challenges that come her way in the corporate world. BLUMEX aims to be dynamic and celebrate every woman’s confidence.

MARKET RESEARCH MARKET ANALYSIS

Economical After the slowdown in 2016 due to volatility and uncertainty, there will be a slight recovery in 2017, where the industry may see 2.5-3.5 percent growth compared to last year. According to the global GDP growth forecasts, it is projected to be at 3.4 percent for 2017 compared to a 3.1 percent in 2016. This will indicate a higher disposable income especially from the emerging middle class. (BOF, 2016) Technological With the increasing pace of technologies challenging the boundaries between the real world and digital, it is important for brands to keep up in order to stay connected to their consumers. Social media is rapidly replacing traditional brand efforts as the main marketing channel for most companies. Augmented reality (AR) and Artificial intelligence (AI) will be the biggest driver for brandsâ&#x20AC;&#x2122; marketing efforts in the years to come. While AI gives consumers more personalized recommendations, AR can create an attractive, interactive experience for consumers, such as scanning products for relevant content and special offers. (The Straits Times, 2017)

MARKET RESEARCH MARKET ANALYSIS

Social Due to globalization, consumer needs and behaviors are becoming more refined, more technology-driven and difficult to predict than ever. With a different lifestyle compared to the past, people shops more broadly than before with the desire for personalization and association to deep-rooted values. Hence brands have to focus on creating a seamless, consistent customer experience throughout all the touch points. Investment on customer relationship management (CRM) is crucial. Environmental After years of rapid growth, brands have realized that peopleâ&#x20AC;&#x2122;s closets are full and the damage fashion industry has upon the planet and its resources. Therefore, sustainability is making a wave in the fashion industry. While awaiting a viable fabric that is suitable for mass-market apparel, fiber recycling has been one of topic amongst pro-sustainability designers. Another trend is the use of environmentally friendly textile material. Textile manufacturers are coming with new materials that reduces the negative impact upon the environment. Feasible alternatives to cotton are materials such as bamboo, corn, soy and wood pulp. With the growing desire to protect environment and the general move towards more environmentally friendly products and processes, brands could use this trend to attract more consumers alike.

MARKET RESEARCH

KEY INDUSTRY TRENDS

1. Rise of affordable luxury and value segment As more consumers are trading down from luxury to affordable luxury, statistics has shown that there will be a 3.5-4.5 percent sales growth. The discount segment will not be expecting a growth improvement as consumers are trading up from discount to value goods. That is shown through statistics with a 3.0-4.0 percent sales growth.

2. Product category Athlete Wear It is expected to see a growth in athletic wear while maintaining a sales growth of 6.5-7.7 percent, the pace of growth has slowed down as compared to 2016. Watches & Jewelry According to statistics, watches and jewelry will see a growth rate of 2.0-3.0 percent. Mass jewelry such as fine, costume/silver jewelry will be the main growth driver for this product category. (BOF, 2016)

MARKET RESEARCH KEY MARKET TRENDS

3. Plus Size In recent years, with body-positive movement circulating through the fashion industry, there has been an increasing social acceptance and awareness of plus-size figures. That resulted in a huge demand for plus-size labels among Singaporean shoppers.

4. Blurring Markets There will be no clear line between work and life as fashion is embracing age fluidity – 30 is the new 20, and 40 is the new 30. Brands are blurring the distinct ‘grown up’ and ‘youthful’ clothes by establishing clothing lines with reconstructed looks from the past, streets or runway. (WGSN, 2016)

5. Seasonless With the trend of purchasing value items, consumers are spending more on less, while expecting a longer durability. Also, with a higher spending power, people are able to travel more now and that will give rise to transeasonal/ seasonless items. Burberry “seasonless” collection, 2016

BRAND CONTEXT

CURRENT BRAND ARCHITECT

EVENING

CORPORATE

WEEKEND

EX by Blum & Co

Brand architect is the thing that can hinder the development of the brand if it is not built right. With consumers’ life rhythm acceleration understanding the brand intuitively is one of the most important factors for the brand success. Today it is vital for fashion brands to have a strong brand architecture. Blumex is “a masterbrand product brand” by Blum & Co. There are sub-brands for different product category such as Blumex Corporate, Blumex Evening and Blumex Weekend. This creates an organized pattern of which style directions Blumex offers to the customers. Miso is a diffusion line for the younger audience and more casual designs.

BRAND CONTEXT BRAND EQUITY

Having the complex of strong values, personality and clear positioning is crucial for any successful brand. It defines what the brand is about and leverage the desire of target group. From the research that was done online and in store the equity of Blumex brand is quite easy to find out. The main values are strength, beauty, confidence and elegance. Blum as a brand for womenâ&#x20AC;&#x2122;s workwear has sophisticated, feminine, intelligent and reliable personality. The brand tries to be consistent with its message and the tone of it. The positioning is very straightforward - Blumex is a womenswear brand for successful and independent professionals.

BRAND CONTEXT TARGET AUDIENCE

BLUMEX main target customers are mature Asian women from 25 up to 45 years old. They are professionals most likely working in the office and they love refined, feminine and practical clothes. BLUMEX woman does not have a lot of time for shopping. She expects to come in store and leave with a new well-tailored and finished styled look. Another great option for her is shopping online as it is not that time-consuming, however; she would rather try check online and then try pieces on before she buys. She has upper middle class spending power - her choice is impeccable but affordable quality. She might be also a customer of affordable luxury brands like Michael Kors, Kate Spade, Tory Burch etc, while investing in high end luxury accessories. BLUMEX woman expects the brand she buys to be socially responsible and constantly adapting to the new big trends both in designs and retail.

BRAND CONTEXT SWOT ANALYSIS

Strengths

Weaknesses

Clear Positioning

Product Merchandise in Store

Good Store Locations

Some Designs are not Appealing for the Target

Well-built Website

Customer Group

Special product - Cheongsam

Only Small Sizing of the Products Store Ambience

Opportunities

Threats

Building Social Media Awareness

High Competition

Hosting styling sessions and events

Lack of Interest from younger target customers

Improving the Stores

Slowing Down Revenue

Involving Design Competitions for Students

Damaged Brand Image

Staying on top in retail is very hard as the market is oversaturated and highly-competitive. Blumex like any other brand has its strong sides to be proud of and some weak points that could be improved. It is very important to evaluate accurately what is going on in the brand to strive for a further growth.

CURRENT MARKETING MIX PRODUCT

1. Product Pyramid

Currently BLUMEX specialises only in apparel. In the bottom of product range pyramid the brand has tops and bottoms starting from SGD150 and on the top BLUMEX has its iconic products which are well-tailored jackets and creative Cheongsam where the prices can go up to SGD500.

CURRENT MARKETING MIX PRODUCT

2. Product Variety Apart from BLUMEXâ&#x20AC;&#x2122;s main cash cow products, there are gowns($850), accessories($90) and bags($150).

3. Services Apart from the sales advisor services in stores, BLUMEX also provide free alteration on regular priced apparels.

4. Packaging BLUMEX has a subdued and sophisticated packaging which might will be a good preference for older professional women. Each garment is wrapped with tissue paper or no movement and sealed nicely. The presentation of the packaging fulfilled the quality of BLUMEX as a brand.

CURRENT MARKETING MIX PRICE

1. Pricing Strategy BLUMEX implemented psychological pricing where all retail items are often expressed as â&#x20AC;&#x153;odd pricesâ&#x20AC;?: a little less than a round number. By applying this pricing structure can make the product seem like the best bargain. Eg. $159.00.

2. Loyalty Programme BLUMEX has a free membership programme upon spending $1000 within a single receipt which entitles members a 10% discount on all regular priced apparels.

CURRENT MARKETING MIX PROMOTION

1. Advertising Traditional marketing media used by BLUMEX is through the in-store product catalogue, print advertising and editorials. Digital marketing media used such as Facebook, Google plus and Instagram.

2. Direct Mailing There will be no clear line between work and life as fashion is embracing age fluidity – 30 is the new 20, and 40 is the new 30. Brands are blurring the distinct ‘grown up’ and ‘youthful’ clothes by establishing clothing lines with reconstructed looks from the past, streets or runway. (WGSN, 2016)

CURRENT MARKETING MIX PROMOTION

3. PR & Publicity BLUMEX mainly promotes the brand through PR and publicity mediums. Worked closely with popular beauty television programme “Queen” to promote the Blum’s apparels, by teaching local personals ways to style workwear. This has definitely helped Blum gather good brand awareness. Blum has also media sponsorship with Mediacorp by dressing channel 8 local newscaster. Blum also work with influencers from Malaysia to help promote the brand. Blum’s styling workshop event helps to connect with their loyal customers and a good way to gather valuable feedback.

CURRENT MARKETING MIX PLACE

1. Channel

2. Inventories

BLUMEX has 5 Stores in Singapore mainly in CBD areas, 2 stores in Malaysia. Raffles City Marina Bay Sands Hitachi Tower 100 Amara Parkway Parade Pavilion Lot Empire Shopping Gallery Lot

In house designers Buying pre-designed garments from other brands from China, Hong Kong Stocks are replenished once or twice a week

Online store, shipping limited to Singapore only.

BLUMEX

COMPETITORâ&#x20AC;&#x2122;S ANALYSIS

BLUMEX

Singapore

Brand Personality

Professional

Target Consumers

Gen X

Product Range

Womenswear | Accessories (outsourced)

Promotion

Social Media | Catalogue | Loyalty Program Facebook (3.1k) Instagram (297) Google Plus

Place

Omnichannel 7 stores in (Singapore, Malaysia) Online website

BLUMEX

COMPETITORâ&#x20AC;&#x2122;S ANALYSIS

Singapore

Brand Personality

Minimalistic

Target Consumers

Millennials

Product Range

Womenswear | Menswear | Kidswear | Accessories | Things

Promotion

Social Media | Gift Card Facebook (7.1k) Instagram (8.9k)

Place

Omnichannel 11 stores (Singapore, Hong Kong, Indonesia, Thailand) Online website

BLUMEX

COMPETITORâ&#x20AC;&#x2122;S ANALYSIS

Singapore

Brand Personality

Creative

Target Consumers

Millennials

Product Range

Womenswear

Promotion

Social Media | Singapore Fashion Week Facebook (7.4k) Instagram (29.5k)

Place

Omnichannel 1 store (Singapore) Online website

BLUMEX

COMPETITORâ&#x20AC;&#x2122;S ANALYSIS

Singapore

Brand Personality

Contemporary

Target Consumers

Gen X & Millennials

Product Range

Womenswear | Collaboration for bags

Promotion

Social Media | Singapore Fashion Week Facebook (8.6k) Instagram (15.6k)

Place

Omnichannel 1 store (Singapore) Online website

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

In Store Communication Issues

Hitachi Tower #01-08 Singapore 049318

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

In Store Communication Issues

Overcrowding of stocks. Inconsistent logo with other outlets and online mediums. Color coding of garments not coordinated properly. Fitting rooms were dull and uninviting with no mirrors inside. Shoes were not nicely organized even when the store is not busy. Yellow lighting used created a dull atmosphere in store. No proper allocation of the different collections. Accessories in store did not reflect the brandâ&#x20AC;&#x2122;s image.

It is important for BLUMEX to offer excellent shopping experience to reflect their brand image. With the retail world drastically changing in recent years, creating a unique and comfortable shopping environment is crucial.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

1. In Store Communication Strategies Store design & layout

It would be ideal to create a simple and sophisticated gallery-like space to act as a backdrop for BLUMEXâ&#x20AC;&#x2122;s modern garment. The attention to details such as color coding of the garments, space in between hangers, the use of mirrors and placement of the chairs are necessary to reduce mess and keep the store neat and tidy. It is important for all stores to be consistently designed to create a conducive environment that is comfortable for BLUMEXâ&#x20AC;&#x2122;s customers to shop in. With the new store layout strategically organized according to the different collections, it allows customers to shop easily and to give then an overall view of what BLUMEX offers.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

1. In Store Communication Strategies Store Mood Board

Decorative light White fluorescent lighting Seating area Mirrors Nicely spaced out hangers

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

1. In Store Communication Strategies Changing Room Mood Board

Clean Task light Neutral tone Spacious Soft wood

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

1. In Store Communication Strategies Window Display Mood Board

Accent lighting Minimal Display new items Themes

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

1. In Store Communication Strategies Accessories Mood Board

Sparse Accent lighting Light wood tone Displayed at touch points

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Product Concept Suits & Jackets

BLUMEX can introduce power suits that are sleek, elegant and a style essential for every woman. The smooth and supple texture will give a lighter and feminine style. For a carefree wear, it would be advisable to use wrinkle-resistant and hand-washable polyester material for this new product range.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Product Concept Functional Wear

BLUMEX can introduce sleek designs for simple, clean style for any occasion. Pairing it with a nice pair of sandals for a casual look when running errands or heels for a dressier outfit to the office or meeting. Materials such as wrinkle-resistant crepe fabric can be a great suggestion for easy care.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Product Concept Evening Wear/Gowns

As BLUMEX celebrates female empowerment, it can offer evening wear and gowns that has an exquisite sense of style, quality and craftsmanship. This new product concept will infuse an elegance flair that empowers women of all ages and silhouettes to look and feel their best.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Product Concept Bags & Shoes

As BLUMEX has good connections with Hong Kong and Korea suppliers, it would be advisable to bring in bags and shoes from them and rebranded as BLUMEX before putting them out in stores. These bags and shoes should reflect the elegance and femininity of BLUMEX and be a great accessories to the apparels.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Website

BLUMEX

The website is recommended to be reorganized according to the types of clothings and the 4 main collections of BLUMEX.

BLUMEX

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Promotion - Charity Sale

BLUMEX

Charity

Sale

Hitachi Tower Sat 21 & Sun 22 Apr 2018 2-5pm

Giving you the fashion you want, while supporting local charities.

20 50 of f RARELY

of all proceeds will be going to a good cause.

DISCOUNTED ITEMS FREE membership card

FREE bag

for the first 20 customers

worth over 200 dollars with purchase of 500 dollars cash vouchers

FREE welcome gift for new subscribers

The purpose of this charity sale event is to reduce the amount of old stocks displayed in stores, with 55% of the proceeds going to a good cause. This could also be a good form of corporate responsibility and publicity. Ultimately this proposed recommendation would bring in more traffic into the store.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Promotion - Cheongsam Design Competition

DO YOU HAVE WHAT IT TAKES TO RECONSTRUCT & CUT WASTE OUT OF FASHION? BLUMEX CHEONGSAM DESIGN COMPETITION Blumex proudly opens the 2018 Cheongsam Design Competion to aspiring young designers and students in Asia. Top three winner will have their collection walk down the Singapore Fashion Week 2018. For full information on prizes and application visit www.blumexcdc.com

BLUMEX is active in supporting both students and the environment with their annual recycling fair, hence it would be a great opportunity to organize a competition with a good cause in mind. The goal of this proposed recommendation is to involve the community, increase brand awareness and as a corporate social responsibility.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Promotion - Cheongsam Design Competition

. Uniquely Singapore . Creativity . Wearable . Young . Patterns .

Since the Cheongsam range is one of BLUMEX’s best seller, it is ideal for BLUM to partner with design students to recreate and reconstruct the traditional Cheongsam with a ‘Uniquely Singapore’ theme. In order to promote the idea of cutting waste out of fashion, BLUMEX will be supplying second-hand Cheongsams which the students have to reconstruct from. Top three winners of the competition would have their collection walk down the Singapore Fashion Week with prize money to be won.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

2. Product Capsule Promotion-Styling Workshop

BLUMEX styling workshop 2016

Nellie Lim

Andrea Chong

With the huge success gathered from BLUMEXâ&#x20AC;&#x2122;s styling workshop last year, it would be recommended to organize the styling workshop as an annual event. However with the goal of attracting newer and younger target audience, it would be advisable to co-host the workshop with fashion social influencer who are within the young working adults age group. Nellie Lim and Andrea Chong are two influencer who has the BLUMEX factor. They are both fashionably famous which are evident from their huge following on Instagram.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

3. Sizing Increase Garment Size

â&#x20AC;&#x153; We came in to look at the designs, but the sizes were too small.

- Walk-in customer

With the rising demand for fashionable plus-size clothing fueling the growth of the fashion industry in Singapore, it is recommended for BLUMEX to increase their size chart from US12 being the biggest to US16. With departmental stores such as Metro and OG receiving increase in sales for having plus-size section, it would be a great direction for BLUMEX to venture into.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

4. Models Introduce Asian Models

As the physical characteristics between Asians and Westerners differ, where Asians are generally thinner and shorter than Westerners, it is important to use Asian models to promise that BLUMEXâ&#x20AC;&#x2122;s garments are crafted for the modern Asian Women.

BRAND REJUVENATION CONTENT CALENDER

It would be ideal for BLUMEX to complete store renovation, discussing the possibilities of rescaling the garment sizes as well as the improvement of models by the end of 2017. Through the recommended brand rejuvenation strategies, the goal is to help increase brand awareness, create buzz and traffic into BLUM stores. By working and partnering with the younger minds such as the influencers and students, it is aimed to attract the millennials who are out in the working world. The ultimate goal is to increase sales by the end of 2018.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

Marketing Mediums

BLUMEX

BLUM S/S 2018

BLUMEX BLUMEX

BLUMEX

@myblumex

When strength meets beauty. Crafted for the modern Asian woman, each BLUMEX piece is consistently made to embody the perfect blend of classic tailoring and contemporary styling.

www.blumex.com/

BLUMEX

BLUMEX February 23 at 5.30pm

BLUMEX Cheongsam Design Competition

BLUMEX A/W 2018

BLUMEX

BLUMEX February 3 at 2.30pm

BLUMEX Styling Workshop Nellie Lim Andrea Chong

After all the changes made to rejuvenate BLUMEX as a brand, it would be advisable for BLUM to be active on all social media pages to connect and update their customers whenever there is any events or new collections. As Customer Relation Management is incredibly vital, it is important for BLUMEX to socialize with its customers on all social media.

BRAND REJUVENATION

ISSUES & RECOMMENDATIONS

Marketing Mediums

blumex.com

OC T

APR

We finally have our top 3 finalists for BLUMEX Cheongsam Design Competition 2018. Check out their work here!

Thank you ever yone who came down to suppor t our ver y first charity sale event!

JAN

FEB

Success! - BLUM Styling Workshop @ Hitachi Tower

Success! - BLUMEX Styling Workshop @ Hitachi Tower

Behind the scenes of BLUMEX S/S 2018 collection

Apart from social media, BLUMEX can make use of the great platform on their website to talk about what was happening recently to the brand and any news in the fashion world. Not only does it allow BLUMEX to share about the events in great details, it is also a great way to involve and reach out to their customers and the community.

NEW LABEL & PRODUCT DEVELOPMENT JEWELRY & ACCESSORIES LABEL

The demand for affordable well-made jewelry on market is very high, it is one of the fastest growing fashion sectors. The markup can be very high, there is no need in a large extensive research on sizing and it does not require a lot of space in store. The new label is called ZART. Zart means “delicate” in German. The connotations of the brand name even without understanding German are “style, minimalist, excellence and functionality”. One of the aims for ZART is to be complementary to Blumex designs especially because the launch is going to be in one of the stores (at Hitachi Tower store). Delicate and timeless ZART will escalate any professional, evening and casual look.

NEW LABEL & PRODUCT DEVELOPMENT BRAND ESSENCE

“ Sophistication Class Quality ”

ZART brand equity is going to be very similar to Blumex. Full of class and sophistication ZART provides excellent quality with latest designs. Celebrating elegance and charm ZART gives a nonchalant allure and magnetism to any look.

NEW LABEL & PRODUCT DEVELOPMENT BRANDING GUIDELINES

Logo Variations These are the branding guidelines for using the name and logo in proper way on advertisements, social media and banners. The color palette is calm which also gives a feel of smart simplicity.

iations 50

NEW LABEL & PRODUCT DEVELOPMENT BRANDING GUIDELINES

Font The main font used across all ZARTâ&#x20AC;&#x2122;s materials is Avenir Next Condensed Regular.

ABCDE FGHIJKLMN OPQRSTU VWXYZ 1234567890&$%

NEW LABEL & PRODUCT DEVELOPMENT TARGET AUDIENCE

The target audience is slightly younger than BLUMEX which can be a benefit for the main brand. Youngsters in store who come for Zart may also make a decision to invest in a quality piece that they might need for a job interview, some conferences or other official events. ZART target customers are both young and mature women (23-24 year old plus). She might be graduating and only starting her career path or she is already a recognized professional. Both of them want some inexpensive jewelry that can complement the outfit and look decent. Her income per month is around SGD 3000-5000. She is working in office and appreciate delicacy in accessories she is wearing. Quality is important as much as the design for her. These woman are social media savvy and shop omni-channel to get what they want at the lowest price and best offer.

NEW LABEL & PRODUCT DEVELOPMENT JEWELRY SINGAPORE MARKET RESEARCH

Demographics

(Results from survey)

Product Range Proportion

&"33*/(4

/&$,-"$&4

3*/(4

#3"$&-&54 (Results from survey)

NEW LABEL & PRODUCT DEVELOPMENT JEWELRY SINGAPORE MARKET RESEARCH

Shopping Behavior From the survey that was developed and completed by 30 Singapore women statistics shows that 47% of women shop spontaneously which is an impulse buying behavior. Therefore, it makes sense to put jewelry in store closer to the counter and changing rooms.

Mass market jewelry is still the most popular choice. Fast fashion brands are the biggest competitors for relatively small brands but what customers start to appreciate is a uniqueness. Women want products to be easy to get but not too cliche.

Product Design The results of the survey shows that desire for gold jewelry is slightly higher than for other. Gold always goes well with office and casual outfits but it is important to have a material and design that give an expensive look to the jewelry piece.

Price Range Most women responded that usually they spend less than SGD100 on one jewelry piece. That explains the success of mass market brands. The choice is so broad that it is difficult for a consumer to find any good alternatives. In this case, it is important to develop efficient marketing strategies for a small label like ZART.

(Please refer to Appendix for full survey results)

NEW LABEL & PRODUCT DEVELOPMENT ZART PRODUCT RANGE

The product range will consist of main jewelry types as earrings, necklaces, bracelets, rings and, also, some accessories like pouches for keeping the jewelry, credit cards or smartphone. Most of the products are going to be metal based and gold plated. There will be 2 different categories according to the materials used.

Budget Jewelry is going to be metal based with decorations made of cubic zirconia, glass, simulated pearls etc.

Basic 14K gold-plated earrings, necklaces and bracelets, solid gold and gold-plated rings, also, sterling silver pieces, crystals, semi-precious gemstones.

NEW LABEL & PRODUCT DEVELOPMENT PRODUCT SOURCE

Building a new label is always a risk; however, with the right suppliers it is possible to minimize it. Blum & Co has different suppliers in Hong Kong, China and Korea. Through their channels it might be possible to find a reliable supplier for fashion jewelry. Guanzhou in China is one of the biggest emerging places to manufacture everything reasonably priced with meeting quality standards including jewelry. So, the company might consider to have a closer look at that area. Also, there are thousands suppliers online through sources like TradeAsia, A l i b aba etc. It is much harder to find the right one without negotiating in person but some of the companies do free samples, other companies have their wholesale product which you can just choose and buy without any product development from ZART. In the last case, it is the most budget alternative to source the product. Having a product development team inside the brand is expensive, so if the owner would consider it too risky to invest - outsourcing is the solution. For example, Shijie Fashion Jewelry is the company from China that was found through Trade Asia. In the company profile it is mentioned that Shijie Fashion Jewelry had experience with working for Zara, H&M, Mango and some other mass market brands. They have thousands designs in stock and some of the samples that they have featured fit perfectly in ZART design guidelines.

NEW LABEL & PRODUCT DEVELOPMENT PRODUCT SOURCE

Clear Big Crystal Earrings USD $2,30 per piece

Rhinestone Opaque Party Drop Earrings USD $2.34 per piece

NEW LABEL & PRODUCT DEVELOPMENT PRODUCT SOURCE

White Round Synthetic Stone Geometric Necklace USD $3.22 per piece

Chain Women Choker Necklace USD $1.60 per piece

NEW LABEL & PRODUCT DEVELOPMENT

JEWELRY TRENDS & ZART PRODUCT DEVELOPMENT

Jewelry Macro Trends for 2018

Right now on Jewelry Market there are 4 macro trends. First one is called Sustainable Harmony - this trends is for those who seek the harmony between environment and innovations. The designs are full of sculptural shapes and silhouettes; the latest laser cutting techniques and sustainable materials usage. For socially responsible brands this trend is going to be number one. Another two are Preserving Our Heritage and Searching for Poetry. These trends are about romantic designs with references to the past (especially 70s and 80s) and to the mythology (esoteric elements are going to be very popular). With support of technology (laser graving for these trends) and inspirations from the previous decades it would be interesting to develop designs for a modern hippie. T h e l a s t o n e i s Futurama. T h i s t r e n d i s â&#x20AC;&#x153; w h e r e t e c h n o l o g y , f a n t a s y a n d i n trospection mergeâ&#x20AC;? - electric colours, futuristic shapes and a hint of sporty style. (TrendVision Forecasting, 2017)

Sustainable Harmony

Preserving Our Heritage

Searching for Poetry

Futurama